For every problem there’s a solution—sometimes more than one.

It seems like there is an ebb and flow to the types of mortgage products clients choose. Over the last few years, I have definitely fielded more inquiries about reverse mortgages. Although they are becoming more widely accepted, reverse mortgages had a lot of bad publicity. The negative press I’ve seen relates to the American housing market, where predatory lenders took advantage of vulnerable seniors.

Reverse mortgages in Canada are highly regulated so that does not happen. For some clients it takes a while to wrap their heads around reverse mortgages as an (or the best) option for them, particularly in the Okanagan where I see many clients who are “house-rich” but “cash poor” or at least have limited........

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